Michael Fasciglione of Mineola New York a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related arbitration claim which was settled for $467,000.00 in damages supported by allegations that (1) fiduciary duties owed to the customer had been breached and (2) real estate security transactions effected in the customer’s account were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-04200 (Dec. 7, 2018).
FINRA Public Disclosure confirms that Fasciglione is referenced in twelve more customer initiated investment related disputes pertaining to accusations of Fasciglione’s violative conduct during the time that he was associated with National Securities Corp, First Montauk Securities Corp, Josephthal Co. Inc. and Continental Broker-Dealer Corp. In particular, on September 28, 2012, a customer initiated investment related complaint pertaining to Fasciglione’s activities was resolved for $80,000.00 in damages based upon allegations that Fasciglione churned the customer’s investment portfolio and made real estate security and mutual fund trades which failed to conform to the customer’s financial profile.
Subsequently, a customer initiated investment related arbitration claim regarding Fasciglione’s conduct was resolved for $525,000.00 in damages based upon allegations that the customer’s account transactions were negligently administered; contractual and fiduciary obligations to the customer were breached; and private placement transactions were in no way suitable for the customer. FINRA Arbitration No. 14-01268 (Jan. 20, 2016).
On March 14, 2018, another customer initiated investment related complaint regarding Fasciglione’s activities was settled for $15,000.00 in damages founded on accusations that misrepresentations had been made to the customer concerning real estate security investments. That same day, a customer filed an investment related complaint concerning Fasciglione’s activities in which the customer sought $17,000.00 in damages supported by allegations that false or misleading statements had been made to the customer concerning real estate investments purchased by the customer.
Thereafter, a customer filed an investment related arbitration claim regarding Fasciglione’s conduct where the customer requested $432,020.69 in damages based upon accusations of negligence, breach of fiduciary duty, and unsuitability in regard to the alternative investments sold to the customer. FINRA Arbitration No. 18-01146 (Apr. 3, 2018). Further, on November 14, 2018, a customer filed an investment related complaint involving Fasciglione’s activities in which the customer sought $12,703.00 in damages founded on allegations of unsuitable real estate securities being sold to the customer.
Fasciglione’s registration with National Securities Corporation was terminated on September 29, 2017. He has been registered with Aegis Capital Corp. since September 13, 2017.
